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Indian Union Budget 2012-2013 - March 16, 2012


HIGHLIGHTS OF THE INDIAN UNION BUDGET 2012-13

INFRASTRUCTURE AND INDUSTRIAL DEVELOPMENT

* During Twelfth Plan period, investment in infrastructure to go up to `50 lakh crore with half of this, expected from private sector.

* More sectors added as eligible sectors for Viability Gap Funding under the scheme "Support to PPP in infrastructure".

* Government has approved guidelines for establishing joint venture companies by defence PSUs in PPP mode.

* First Infrastructure Debt Fund with an initial size of `8,000 crore launched earlier this month.

* Tax free bonds of `60,000 crore to be allowed for financing infrastructure projects in 2012-13.

* A harmonised master list of infrastructure sector approved by the Government.

* IIFCL has put in place a structure for credit enhancement and take-out finance for easing access of credit to infrastructure projects.

National Manufacturing Policy

* National Manufacturing Policy announced with the objective of raising, within a decade, the share of manufacturing in GDP to 25 per cent and creating of 10 crore jobs.

Power and Coal

* Coal India Limited advised to sign fuel supply agreements with power plants, having long-term PPAs with DISCOMs and getting commissioned on or before March 31, 2015.

* External Commercial Borrowings (ECB) to be allowed to part finance Rupee debt of existing power projects.

Transport: Roads and Civil Aviation

* Target of covering a length of 8,800 kilometre under NHDP next year.

* Allocation of the Road Transport and Highways Ministry enhanced by 14 per cent to `25,360 crore.

* ECB proposed to be allowed for capital expenditure on the maintenance and operations of toll systems for roads and highways, if they are part of original project.

* Direct import of Aviation Turbine Fuel permitted for Indian Carriers as actual users.

* ECB to be permitted for working capital requirement of airline industry for a period of one year, subject to a total ceiling of US $ 1 billion.

* Proposal to allow foreign airlines to participate upto 49 per cent in the equity of an air transport undertaking under active consideration of the government. Delhi Mumbai Industrial Corridor

* In September 2011 central assistance of `18,500 crore spread over 5 years approved. US $ 4.5 billion as Japanese participation in the project.



Housing Sector

* Various proposals to address the shortage of housing for low income groups in major cities and towns including allowing ECB for low cost housing projects and setting up of a credit guarantee trust fund etc.

Fertilisers

* Government has taken steps to finalise pricing and investment policies for urea to reduce India's import dependence in urea.

Textiles

* Government has announced a financial package of `3,884 crore for waiver of loans of handloom weavers and their cooperative societies.

* Two more mega handloom clusters, one to cover Prakasam and Guntur districts in Andhra Pradesh and another for Godda and neighbouring districts in Jharkhand to be set up.

* Three Weaver's Service Centres one each in Mizoram, Nagaland and Jharkhand to be set up for providing technical support to poor handloom weavers.

* Rs 500 crore pilot scheme announced for promotion and application of Geo-textiles in the North Eastern Region.

* A powerloom mega cluster to be set up in Ichalkaranji in Maharashtra with a budget allocation of `70 crore.

Micro, Small and Medium Enterprises

* Rs 5,000 crore India Opportunities Venture Fund to be set up with SIDBI.

* To enable greater access to finance by Small and Medium Enterprises (SME), two SME exchanges launched in Mumbai recently.

* Policy requiring Ministries and CPSEs to make a minimum of 20 per cent of their annual purchases from MSEs approved. Of this, 4 per cent earmarked for procurement from MSEs owned by SC/ST entrepreneurs.

EDUCATION

* For 2012-13, Rs 25,555 crore provided for RTE-SSA representing an increase of 21.7 per cent over 2011-12.

* 6,000 schools proposed to be set up at block level as model schools in Twelfth Plan.

* Rs 3,124 crore provided for Rashtriya Madhyamik Shiksha Abhiyan (RMSA) representing an increase of 29 per cent over BE 2011-12.

* To ensure better flow of credit to students, a Credit Guarantee Fund proposed to be set up.

HEALTH

* No new case of polio reported in last one year.

* Existing vaccine units to be modernised and new integrated vaccine unit to be set up in Chennai.

* Scope of 'Accredited Social Health Activist' - 'ASHA' is being enlarged. This will also enhance their remuneration.

* Allocation for NRHM proposed to be increased from Rs 18,115 crore in 2011-12 to Rs 20,822 crore in 2012-13.

* National Urban Health Mission is being launched.

EMPLOYMENT AND SKILL DEVELOPMENT

* MGNREGS has had a positive impact on livelihood security.

* Need to bring about greater synergy between MGNREGA and agriculture and allied rural livelihoods.

* Allocation of Rs 3915 crore made for National Rural Livelihood Mission representing an increase of 34 per cent.

* To ease access to bank credit, corpus for 'Women's SHG's Development Fund' enlarged.

* Proposal to establish Bharat Livelihoods Foundation of India through Aajeevika scheme.

* Allocation for Prime Minister's Employment Generation Programme increased by 23 per cent to Rs 1,276 crore in 2012-13.

* Pradhan Mantri Swasthya Suraksha Yojana being expanded to cover upgradation of 7 more Government medical colleges.

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